Mauritius

New Documents

The Financial Intelligence Unit of Mauritius issued a notice regarding changes to the sanctions list with respect to al-Qaida and the Islamic State of Iraq and the Levant.

The Financial Intelligence Unit of Mauritius issued a notice announcing changes to the sanctions list with respect to Yemen.

Enforcement Actions

0 Items Found


Important Facts

  • The U.S. State Department identifies Mauritius as a monitored jurisdiction. Laundered funds are primarily derived from the proceeds of drug trafficking, mainly heroin and subutex, a prescription drug that is illegal in Mauritius. Other important predicate money laundering offenses include theft, conspiracy, forgery, swindling, Ponzi schemes and corruption. Drug trafficking organizations and organized criminal groups do not control criminal proceeds laundered in Mauritius. According to recent investigations, money laundering occurs in the banking system, the offshore financial center and the non-bank financial system. Criminal proceeds are derived from both domestic and foreign criminal activities. Mauritius prohibits shell companies, bearer shares and nominee or anonymous directors or trustees. At the end of 2015, there were 231 operators in the Mauritius free-trade zone.
  • KYC Covered Entities:  Banks, insurance companies, securities dealers, money changers, foreign exchange dealers, accountants, lawyers, notaries, chartered secretaries, gaming centers, jewelry dealers, property developers and promoters, and estate agents
  • STR Covered Entities:  Banks, insurance companies, securities dealers, money changers, foreign exchange dealers, accountants, lawyers, notaries, chartered secretaries, gaming centers, jewelry dealers, property developers and promoters, and estate agents
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 19 (Jan. 1 – Nov. 12, 2015); Convictions: 9 (Jan. 1 – Nov. 12, 2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 25 High : 0
Largely Compliant : 11 Substantial : 0
Partially Compliant : 3 Moderate : 2
Non-Compliant : 1 Low : 9

Mauritius' technical compliance was re-rated in a Jan. 22, 2021 follow-up report

BASEL i

Rank : 59/141
Score : 5.33/10

TRANSPARENCY INTERNATIONAL i

Rank : 56/180
Score : 52/100

Tax Justice Network i

Rank : 51/133
Score : 72/100